NOTE: No news updates over Sept 20-21 due to the Mid-Autumn Festival in China.
UTC+8 ( BJT)

DCE iron ore futures slump as hopes for demand darken

ABSTRACT

The most-traded iron ore futures contract on the Dalian Commodity Exchange (DCE) for September delivery plunged by a large 8.1% on Friday, triggered by the prevailing bearish sentiment in China’s iron ore market on the likelihood of slowing demand in coming months.
The contract finally closed the daytime trading session at Yuan 1,027/dmt ($159/wmt), or down by Yuan 91/dmt from Thursday’s settlement price. On Thursday, the contract had already dipped by 1.6% from Wednesday’s settlement price, according to DCE’s data. “Recently, all signals have indicated that many steel mills will cut their steel production between now and December, with

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